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What is the minimum efficient scale (MES) of a firm's average cost curve? Question 11 options: a) Smallest output level where average cost remains constant
What is the minimum efficient scale (MES) of a firm's average cost curve? Question 11 options: a) Smallest output level where average cost remains constant as output increases b) Smallest output level where firm is profitable c) Output level that maximizes profit d) Smallest output level where marginal cost begins to increase
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